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by: Jedidiah Pfannerstill

VeterinaryEconomicsandHospitalManagement AHS450

Marketplace > California State Polytechnic University > Animal Science > AHS450 > VeterinaryEconomicsandHospitalManagement
Jedidiah Pfannerstill
CSU Pomona
GPA 3.96


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Class Notes
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This 4 page Class Notes was uploaded by Jedidiah Pfannerstill on Saturday October 3, 2015. The Class Notes belongs to AHS450 at California State Polytechnic University taught by JamesAlderson in Fall. Since its upload, it has received 17 views. For similar materials see /class/218220/ahs450-california-state-polytechnic-university in Animal Science at California State Polytechnic University.


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Date Created: 10/03/15
AHS 450 Study Guide 7 Final Examination Historically the stock market returns annually Veterinarians can expect a big payout when they sell a practice T F List 12 things you would need to do to open a veterinary practice Arrange them in the proper order temporally and make sure each item is unique In order for a veterinary practice to be considered pro table it must have an ROI greater than The pro tability of a veterinarian is reduced when they have too many Describe value added pricing What advantage does it have over a traditional 2 7 3X markup A clinic was open 250 days had 2350 transactions last year with a gross income of 321950 Their net pro t was 38634 after all expenses What was their ATF On the average how many transactions did they have each day What was their pro t margin List ve things that make a practice convenient List ve things that make a practice competitive Describe 5 ways a practice can advertise a practice Describe 5 digital ways a practice can advertise Describe a SWOT analysis List three steps in developing a wage compensation system What are the two components of a compensation program What are the top ve reasons for job satisfaction by employees Name three methods for compensating veterinarians Remember employees are also What should be excluded when calculating compensation based upon production List 5 bene ts that a practice may offer a veterinarian is a key to mp1 J 3 39 I and up u List the components of a successful employee training program What should be included in the Hospital manual List the components that should be included in an employment contract for veterinarians and are crucial to an employee training An employee bene t that will improve the quality of the practice and pay for itself many times over is paid List three CE programs that could increase pro tability Describe the term quid pro quo and its relationship to the value of services Every employee must have a in which their reviews and disciplinary actions are led Clients should receive an before services are rendered and a and when they leave A practice can avoid Jquoti Ation by p 39139 g services A clients bill is 100 The client is given a 20 discount Your annual R01 is 22 How did the discount affect the pro tability of that transaction List three ways in which employees can be motivated List three things that should be used to evaluate employees for raises List the tenants of a successful practice Why is it more important for veterinary hospitals to do a background check on potential employees than most other businesses Know the best questions for a job interview What is the public opinion of veterinarians Surgical mistakes are responsible for most lawsuits against veterinarians TF Who is the number one provider of veterinary malpractice insurance The two best practices to protect a practice against litigation are good and good What is the most common reason for veterinary lawsuits What is the difference in a lawsuit and a complaint against the veterinarian s license How is the insurance different How is the value of an animal determined in court Why is the value of animal controversial Most often the weakest part of a veterinarian s defense in a lawsuit are their What lawsuits are the largest in value and how can they be avoided What is a restricted covenant Practices that sell for 100 of their gross usually have a practice profit of or more after the ownerveterinarians salary of 23 A practice with a practice profit of 5 after the veterinarian owner s salary of 23 is likely to sell for 7 of the gross income What is goodwill How is it evaluated when buyingselling a practice Why use escrow when buying or selling a practice What do they do It is advantageous to finance carry the loan a practice when selling the practice T F What would you want to know when purchasing a practice It is better to buyrent the real estate for your practice Why The COGS from the pharmacy for your practice is 123984 You have an average 6888 in inventory on the shelf What is your inventory turnover time How many times do you turn over your inventory in a year Is this good inventory management How long is the average inventory on the shelf Name three things that affect inventory ROPs What items should be scripted out to a pharmacy 3 reasons What is exible appointment scheduling Why is it better than fixed time appointment scheduling List five factors that should be considered when using ex scheduling Give an example of each List 4 things that should be on invoices Which one of these four are frequently not included on veterinary invoices Explain the difference in marketing and advertising Give five examples of each What is the most effective advertising method in veterinary medicine Name three disadvantages for giving free examinations to adopted pets Name three advantages Which veterinarians have the highest malpractice insurance Why Which have the lowest Why Know the following agencies and their roles in veterinary medicine AVMA CVMA State Department of Consumer Affairs CVMB APHIS PLIT FDA CVM DEA USDA Accredited veterinary schools DCA


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